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Canadian insurance regulators are taking a closer look at life insurers’ use of MGAs.

  • By: Katie Keir
  • August 12, 2013 August 21, 2018
  • 15:23

Qualified Financial Services has acquired another MGA, and its CEO says middle-tier companies are dwindling.

LOGiQ³ Corp. is currently working with key Canadian life insurance industry stakeholders to investigate an industry advisor screening, contracting, and monitoring model.

  • By: Staff
  • January 11, 2013 August 21, 2018
  • 11:26

In a transaction described as a “partial acquisition,” PEAK Financial Group has joined forces with Customplan Financial Advisors Inc.

IDC Worldsource Insurance Network has acquired the MGA business of Calgary-based Strategic Brokerage Services. The transaction also includes the business of SBS West, an associated firm located in Langley, British Columbia.

  • December 3, 2012 August 21, 2018
  • 17:44

The trend of M&As continues in Canada. In the latest development, Financial Horizons Inc., a large MGA, announced the acquisition of another MGA, Audis Canada Ltd. The transaction is expected to close by October 31, 2012. It involves the purchase of 100% of the shares of Audis Canada by Financial Horizons in exchange for cash […]

Advisors can expect more scrutiny in the future from MGAs.

What to consider to get the best price

The Agencies Regulation Committee (ARC) of the Canadian Council of Insurance Regulators (CCIR) recently submitted a position paper addressing potential MGA-related issues raised by the public and media.

Canada’s insurance industry isn’t shrinking from the proposal for a closer regulatory oversight. But key stakeholders say lots remains to be done to fulfil the regulators’ mandate.